On Tuesday, E.W. Scripps Co announced it has sold the licensing rights of the Peanuts to Iconix Brand for an astounding $175 million.

Snoopy doesn't come cheap, does he?

In addition to their licensing purchase, Iconix will now own 20% of the Peanuts. And surprisingly, the Schulz family is happy about the new deal! Charles Schulz son explains:

"Peanuts now has the best of both worlds. Family ownership and the vision and resources of Iconix to perpetuate what my father created throughout the next century with all the goodwill his lovable characters bring."

With the new addition of the Peanut Iconix expects to make over $75 million a year off Charlie Brown and the gang.

When we first heard whispers that Madonna would be designing a line of clothing at Macy's we were skeptical, but it seems like it's going to happen.

Today it was announced the Queen of Pop and manager Guy Oseary will join together with Iconix Brands to form MG Icon, LLC. Under the name Madge will be churning out many fashion related projects.

Upon the announcement Madonna said "Joining forces with Iconix to bring my fashion ideas to consumers is very exciting for me."

The first project will be a junior's line called Material Girl. The younger line will include everything from apparel, footwear, handbags and accesories, with the possibility of expanding into beauty and fragrances.

Not surprisingly, Madonna's 13 year old daughter, Lourdes is the muse for the collection. Jeff Gennette, chief merchandising officer at Macy's explains: "Lourdes has an incredible sense of style and her point of view on fashion has definitely been an inspiration for the line".

Material Girl will be hitting 200 stores in August with the possibility of reaching 850 in the future. Price points for the line are actually very affordable, ranging from $12 to $40.

Aside from the Macy's line, MG Icon is expected to announce another collaboration with a designer label for a line of branded eyewear.